Shipowners’ Club chief executive Simon Swallow is set to retire after 31 years at the small and specialist ship protection and indemnity insurer.
Swallow joined the London-based Shipowners’ Club in 1991 as an underwriter before moving onto a senior management role. He has been a management board member for 25 years and chief executive since 2015.
Reflecting on his career in P&I Swallow told TradeWinds: “I have loved every minute, love the P&I industry and all that mutuality stands for and I will miss it greatly.”
Swallow will be replaced by chief financial officer Simon Peacock in May next year, but said it will be business as usual until then.
“Shipowners’ is in hugely safe hands with a great team of colleagues. In Simon Peacock we have found an excellent successor who truly supports the values we have established over the years of always placing the member and their broker first and ensuring peace of mind in all that we do,” Swallow said.
The Shipowners’ Club has been one of the better performers among the International Group of P&I Clubs' members over the past three years of difficult trading conditions.
While many clubs have been losing money on their P&I underwriting Shipowners’ Club reported a $2.9m underwriting profit in 2021 and built up capital and free reserves of $396.4m.
“Simon’s long service and the success of the club which he has overseen is testament to him. Simon’s energy, enthusiasm and unsurpassed market knowledge have served the club’s members admirably over these many years,” said the club’s chair Donald A Macleod.
Swallow said he would like to remain involved in the maritime industry.
“I am looking forward to getting back to painting, perhaps trying to play golf and sending more time in the kitchen,” Swallow said.
“I have been hugely fortunate in my career and been blessed with so many great friends around the world some of whom I would hope to keep in touch with, but fundamentally I would like to also spend a little bit of time giving back in some way.”
